Payment Gateway as the Backbone of E-commerce in Southeast Asia

In Southeast Asia, there are many payment gateways that provide the same services to the merchants and customers. Each payment gateway might look silmilar in terms of offering services such as online banking, card processing and even offline payment. But, there are several differences among them. In order to make them well-known and stand out in terms of performance, they focus on what a business needs.

Southeast Asia region consists of 11 countries. The main countries that predicted to succeed in e-commerce are Thailand, Malaysia, Indonesia, Vietnam, Singapore and Philippines. This is because these six countries have the potential to grow due to the increasing number of internet and mobile phone users in their countries and other several factors. All these six countries will undoubtedly take over the world at any time soon.

Every region has listed the best payment gateways according to what the majorities are using. Same goes to realizing their existence. In other words, in the future, world might see them as a golden opportunity to penetrate their business into this prosperous region.

 

The Top Payment Gateways in Southeast Asia

As mentioned before, these six countries are predicted to be the best in e-commerce industry. You may refer the comparison chart at our homepage for a mind-refresher. So, the listed below are the top leading payment gateways in Southeast Asia:

Thailand – 2C2P, Paysbuy, and Omise.

Malaysia – MOLPay and iPay88.

Indonesia – Doku, Midtrans and Faspay

Vietnam – VTC Pay and NganLuong

Singapore – eNets

Philippines – Dragonpay, Paynamics and PesoPay

 

Why Payment Gateway?

Why payment gateways are needed in e-commerce? Here are some of the reasons that lead the payment gateway to be one of the sole contributors in helping the growth of e-commerce in Southeast Asia


Help processing payment

Payment gateways ease business to accept payment. How? As there are many financial institutions in the country, a payment gateway uses its power to gather them all and the account holders of each bank can easily make their payment through only one sole payment gateway.  They will help them to make purchases, pay bills and others. As for the unbanked population, right now there is also a payment gateway which partners with convenience shop to accept offline payment for any online purchases. The roles that they hold make any group of people do not feel the gap among them and give more options to make successful payment.

Follow the trends

As we know, people nowadays are using internet a lot. The payment gateways in the region takes this opportunity to gain merchants and customers’ attention with fast and reliable services online. They want all groups to use their services regardless of age and origins, therefore multiple options are being offered. In order to gain the attention, all the payment gateway players need to be one step forward from others by delivering the services which are most needed by the local public.

Most payment gateways also use all the social networks to keep in touch with all its clients and to give information and others to the public. They also update the clients on their next milestone or any current information regarding their services. It helps a lot for payment gateways to let the clients know that they are active. 2C2P is one of the payment gateways that update their clients through Facebook and it helps a lot due to the trends in Thailand. Read here!

 

Conclusion

To conclude, the payment gateways in Southeast Asia is the key for e-commerce in the region to become the next leader the world’s e-commerce.  Even though all these companies need to compete with each other, but with a strong mindset to help, they keep coming out with consistent development that they can already show it off to the whole world.